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1 month ago
Germany is poised to vote against the European Union’s proposed tariffs on Chinese electric vehicles this Friday. This decision comes after significant pressure from industry leaders on German Chancellor Olaf Scholz.
What Happened: Germany had previously abstained from a non-binding vote in July concerning the European Commission’s tariff proposal. The Commission’s plan requires a qualified majority of 15 EU member states, representing 65% of the EU population, to be implemented, Reuters reported on Friday, citing people with knowledge of the matter.
France, Greece, Italy, and Poland are reportedly in favor of the tariffs, which could push the measure through.
The Commission argues that the tariffs are necessary to counteract subsidies such as cheap loans and raw materials, aiming for a level playing field rather than excluding Chinese manufacturers.
However, German carmakers, who derive a significant portion of their sales from China, oppose the tariffs due to fears of retaliatory actions and potential trade conflicts.
The influential German labor union IG Metall ...
